Muthoot Pappachan Group

Muthoot Pappachan Group, also known as Muthoot Blue[1][2], is an Indian conglomerate founded in 1887[3] by Ninan Mathai Muthoot. Headquartered in Thiruvananthapuram, Kerala[4], the group has a work force of more than 26,000[5] employees across 4,200[6] branches in India. The company provides financial services to consumers, businesses, hospitality, automotive dealerships, real estate, healthcare, IT services, precious metals, and alternate energy.[3]

Muthoot Pappachan Group
Public
IndustryFinancial services, real estate and infrastructure, automotive, IT services, precious metals, alternate energy, security services, insurance, travel & leisure, FOREX, money transfer, gold loans, automobile financing
Founded1887
HeadquartersThiruvananthapuram, Kerala, India
Area served
India
Key people
  • Ninan Mathai Muthoot (patron​ founder)
  • Muthoot Pappachan (founder)
  • Thomas John Muthoot​ (chairman & MD)
  • Thomas George Muthoot​ (promoter - director)
    Thomas Muthoot (promoter -​ director)
Number of employees
26,000
Websitewww.muthoot.com

History

The family business was founded in 1887 by Ninan Mathai Muthoot in Kozhencherry, Kerala.[4][7] Ninan Mithai Muthoot traded in timber and food grains, supplying rations to large British-run plantations. In 1939, the group established banking and finance service to provide immediate financial assistance to customers in rural and non-rural areas through easy secured loans.[8] Post-independence, the demand for credit increased as individuals discovered their household gold as a safe & convenient means to get credit. Ninan Mathai Muthoot then moved into the gold loan business. In 1979, the business was split among the founder’s three surviving sons. The eldest son, M. George Muthoot, moved out of Kerala and set up Muthoot Finance. The youngest son, Mathew M. Thomas, also known as Muthoot Pappachan, then incorporated Muthoot Pappachan Group, or Blue Muthoot.[4][9]

References
  1. "Muthoot Fincorp rolls out 5th tranche of Rs 900-crore capital market plan". The Financial Express. 9 January 2020. Retrieved 12 February 2020.
  2. "Muthoot Pappachan Group: Riding out the storm". www.fortuneindia.com. Retrieved 12 February 2020.
  3. Sanjai, Vishwanath Nair,P R. (1 May 2015). "Muthoot Pappachan Group goes back to roots with planned microfinance unit". Livemint. Retrieved 12 February 2020.
  4. "The Other Muthoot: True Blue Heirs". Forbes India. Retrieved 12 February 2020.
  5. Sangani, Priyanka (10 February 2020). "Muthoot Pappachan Group ties up with UST Global for digital transformation initiative". The Economic Times. Retrieved 12 February 2020.
  6. Sangani, Priyanka (10 February 2020). "Muthoot Pappachan Group ties up with UST Global for digital transformation initiative". The Economic Times. Retrieved 12 February 2020.
  7. Muthoot, MG George (24 November 2014). "40 Years Ago... and now: Pushing for growth". Business Standard India. Retrieved 12 February 2020.
  8. Rai, Saritha (26 October 2011). "Indian Billionaire George Muthoot's Pot of Gold". Forbes. Retrieved 12 February 2020.
  9. "Muthoot Pappachan Group: Riding out the storm". www.fortuneindia.com. Retrieved 12 February 2020.
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